Technical analysis:
BTC/USD has been trading upside in the background but I found exhaustion channel pattern and potential for the downside movement.
Due to the lack of buying power and potential bear wedge formation, I see potential for the further drop towards lower reference.
Downside objective is set at the price of $25.850
RSI oscillator is showing bearish divergence in creation, which is sign that we might see further downside movement.
Key resistance is set at the price of $26.800
The material has been provided by InstaForex Company – www.instaforex.com
Technical analysis:
BTC/USD has been trading upside in the background but I found exhaustion channel pattern and potential for the downside movement.
Due to the lack of buying power and potential bear wedge formation, I see potential for the further drop towards lower reference.
Downside objective is set at the price of $25.850
RSI oscillator is showing bearish divergence in creation, which is sign that we might see further downside movement.
Key resistance is set at the price of $26.800
The material has been provided by InstaForex Company – www.instaforex.com
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